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10 things that you need to know before the opening bell on April 30

Updated : 2020-04-30 08:21:36

The Indian market is likely to open higher on Thursday following gains in global markets amid positive developments overnight on a potential new treatment for COVID-19. At 8 am, the SGX Nifty was trading 196.35 points or 2.06 percent higher at 9,745.50, indicating a positive start for the Sensex and Nifty50.

1.  Asian Stocks:  Asian equity markets rose in Thursday morning trade following positive developments overnight on a potential new treatment for Covid-19. Stocks in Japan, which returned to trade following a Wednesday holiday, led gains regionally. The Nikkei 225 jumped 2.55 percent while the Topix index also rose 1.94 percent. South Korea’s Kospi edged 0.7 percent higher. Overall, the MSCI Asia ex-Japan index traded 0.28 percent higher. (Image: AP)
1. Asian Stocks: Asian equity markets rose in Thursday morning trade following positive developments overnight on a potential new treatment for Covid-19. Stocks in Japan, which returned to trade following a Wednesday holiday, led gains regionally. The Nikkei 225 jumped 2.55 percent while the Topix index also rose 1.94 percent. South Korea’s Kospi edged 0.7 percent higher. Overall, the MSCI Asia ex-Japan index traded 0.28 percent higher. (Image: AP)
2.  Wall Street:  US stocks jumped to seven-week highs on Wednesday as Gilead Sciences gave an encouraging update on potential COVID-19 treatment and upbeat earnings from Alphabet. The Dow Jones Industrial Average rose 2.21 percent or 532.31 points to 24,633.86, the S&P 500 gained 2.66 percent or 76.12 points to 2,939.51 and the Nasdaq Composite ended 3.57 percent or 306.98 points higher at 8,914.71. (Image: AP)
2. Wall Street: US stocks jumped to seven-week highs on Wednesday as Gilead Sciences gave an encouraging update on potential COVID-19 treatment and upbeat earnings from Alphabet. The Dow Jones Industrial Average rose 2.21 percent or 532.31 points to 24,633.86, the S&P 500 gained 2.66 percent or 76.12 points to 2,939.51 and the Nasdaq Composite ended 3.57 percent or 306.98 points higher at 8,914.71. (Image: AP)
3.  Market at Close:  Indian shares rose on Wednesday, tracking gains in Asian markets, as several countries eased coronavirus-induced lockdowns while oil prices jumped. The Sensex ended 605 points higher at 32,720, while Nifty rose 172 points to settle at 9,553.
3. Market at Close: Indian shares rose on Wednesday, tracking gains in Asian markets, as several countries eased coronavirus-induced lockdowns while oil prices jumped. The Sensex ended 605 points higher at 32,720, while Nifty rose 172 points to settle at 9,553.
4.  Crude Oil:  Oil prices rose on Thursday, building on big gains in the previous session on signs the US crude glut is not growing as fast as expected and that gasoline demand battered by COVID-19 restrictions is starting to pick up. West Texas Intermediate (WTI) crude futures climbed to a high of $16.25 a barrel and were up 7.2 percent, or $1.08, at $16.14 at 0147 GMT. Brent crude rose 3.9 percent, or 88 cents, to $23.42 a barrel in light trading, with the June contract expiring on Thursday. (Image: Reuters)
4. Crude Oil: Oil prices rose on Thursday, building on big gains in the previous session on signs the US crude glut is not growing as fast as expected and that gasoline demand battered by COVID-19 restrictions is starting to pick up. West Texas Intermediate (WTI) crude futures climbed to a high of $16.25 a barrel and were up 7.2 percent, or $1.08, at $16.14 at 0147 GMT. Brent crude rose 3.9 percent, or 88 cents, to $23.42 a barrel in light trading, with the June contract expiring on Thursday. (Image: Reuters)
5.  Rupee:  The rupee surged by 52 paise to close at a four-week high of 75.66 against the US dollar on Wednesday, bolstered by gains in domestic equities and a weak greenback in global markets. At the interbank foreign exchange, the rupee opened at 75.94. During the session, it touched an intra-day high of 75.60 and a low of 75.96.
5. Rupee: The rupee surged by 52 paise to close at a four-week high of 75.66 against the US dollar on Wednesday, bolstered by gains in domestic equities and a weak greenback in global markets. At the interbank foreign exchange, the rupee opened at 75.94. During the session, it touched an intra-day high of 75.60 and a low of 75.96.
6.  US Federal Reserve:  The US Federal Reserve policymakers on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the economy.
6. US Federal Reserve: The US Federal Reserve policymakers on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the economy. "The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals," the U.S. central bank said in a statement. (Image: Reuters)
7.  China PMI:  Factory activity in China expanded for a second straight month in April as more businesses resumed work from the coronavirus-led shutdowns, but a worsening slump in export orders pointed to a long road to recovery for the embattled economy. China's official Purchasing Managers' Index (PMI) eased to 50.8 in April from 52 in March, China's National Bureau of Statistics said on Thursday but stayed above the neutral 50-point mark that separates growth from contraction on a monthly basis. (Image: Reuters)
7. China PMI: Factory activity in China expanded for a second straight month in April as more businesses resumed work from the coronavirus-led shutdowns, but a worsening slump in export orders pointed to a long road to recovery for the embattled economy. China's official Purchasing Managers' Index (PMI) eased to 50.8 in April from 52 in March, China's National Bureau of Statistics said on Thursday but stayed above the neutral 50-point mark that separates growth from contraction on a monthly basis. (Image: Reuters)
8.  US Economy:  The US economy shrank at a 4.8 percent annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record. The Commerce Department said the gross domestic product posted a quarterly drop for the first time in six years.
8. US Economy: The US economy shrank at a 4.8 percent annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record. The Commerce Department said the gross domestic product posted a quarterly drop for the first time in six years.
9.  India Lockdown:  The lockdown to contain the coronavirus spread will be relaxed considerably from May 4, Ministry of Home Affairs (MHA) said in a tweet on Wednesday. MHA held a comprehensive review meeting to review the lockdown situation on Wednesday. Details regarding this will be communicated in the days to come, it said. (Image: AP)
9. India Lockdown: The lockdown to contain the coronavirus spread will be relaxed considerably from May 4, Ministry of Home Affairs (MHA) said in a tweet on Wednesday. MHA held a comprehensive review meeting to review the lockdown situation on Wednesday. Details regarding this will be communicated in the days to come, it said. (Image: AP)
10.  SIDBI:  The Small Industries Development Bank of India (SIDBI) has extended the repayment period of loans to non-banking finance companies (NBFCs) and Microfinance Institutions (MFIs), announced under Reserve Bank of India's (RBI) special liquidity scheme, to one year from the 90-day period earlier.
10. SIDBI: The Small Industries Development Bank of India (SIDBI) has extended the repayment period of loans to non-banking finance companies (NBFCs) and Microfinance Institutions (MFIs), announced under Reserve Bank of India's (RBI) special liquidity scheme, to one year from the 90-day period earlier.
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